Corporate Actions

Investment Education Plc
In

£980
+ VAT
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Important information

Typology Course
Duration 2 Days
Start Flexible
  • Course
  • Duration:
    2 Days
  • Start:
    Flexible
Description

To provide a detailed understanding of Corporate Actions, what they are, where they originate and why they happen. Critical factors and the alternative choices for the investor as well as relevant calculations and the time scales involved are included. The course covers a wide variety of Corporate Actions with relevant examples and differences in practice taken from many different markets.
Suitable for: Investment, Broking, Banking, Settlement, Custodian and Accounting Managers and staff. Front, Mid and Back Office staff will all benefit.

Important information
Venues

Where and when

Starts Location
Flexible
Flexible
Starts Flexible
Flexible
Location

Frequent Asked Questions

· Requirements

No specific prior knowledge is assumed but delegates should have at least 3 months experience in the area. Delegates are assumed to have a basic awareness of equity and bond markets in general. Delegates should bring an ordinary pocket calculator with them to assist in the many exercises included.

Course programme

Corporate Actions

Content

  • Background to Corporate Actions. Types, Actions and Critical Factors
  • Debt v Equity. Implications.
  • Outline of specialist instruments eg Preference shares, ADRs and international variations.
  • Life Cycle of a Corporate Action
  • Swift Corporate Actions Messages
  • Bearer, Registered shares, Book entry securities. Dematerialisation and consequences
  • Bonus or Scrip issues, Splits. Pricing calculations
  • Reverse Splits and Consolidations. Calculations
  • Demergers and Spin Offs
  • Capital Raising or Rights issues. Pricing. Calculations of alternatives.

  • Takeovers and Mergers. Why they occur. Process. Alternatives and selecting among them
  • Bond Corporate Actions: Early Maturity. Partial Call. Bond Puts. Rating change.

  • Dividend and Interest payment dates: Cum, Ex, Record, Payment
  • Stock Dividends. DRIPs and Dividend Scrip Alternatives. Timing and Dates. Calculations

  • Capital reduction methods: Buy Back, Tender, Return of Capital etc.
  • Convertibles and Warrants. Why used

  • Exchangeable bonds. Reverse Convertibles
  • Pricing calculations for conversion or exercise

  • Annual General Meeting. Voting rights and Proxies
  • Class actions (USA)

  • Section 793 notice (UK), previously Section 212

Achievements for this centre

Additional information

Payment options: Zurich fee: GBP 1000Guernsey fee: £980Dublin fee: Euro 1200London fee: £980 + VAT

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